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20121126
20121126
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CNBC 5
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CNBC
Nov 26, 2012 12:00pm EST
in boca raton, florida. he's allowed to travel to florida, as well. preliminary hearing set for december 26th. most likely that will go until the new year. but at this point, there's just a formal complaint and he has been charged. he has not been formally indicted if that indictment is handed down in the interim, then he would be back in the court. in the complaint it says that mr. martoma as a portfolio manager for cr intrinsic, a unit of sec capital. he had inside information from one of the key researchers in that trial who is now listed as a cooperating witness for the prosecution. not named and yet inferred in that complaint is steve cohen who is the head of s.a.c. capital. according to the complaint, the owner of the hedge fund was aware of these trades. and a lot of people feel that this is a key development in this case. back to you. >> all right, bertha, thanks so much, bertha coombs for us down in lower manhattan. again the significance. this is the first time we're seeing the man accused by the feds of pulling off the biggest insider trading scheme in u.s. history. herb, than
CNBC
Nov 26, 2012 1:00pm EST
area and massachusetts and florida where he has homes. at his florida home that he was arrested six days ago. martoma is the fifth person affiliated with sac capital who's charged in the long running insider probe that's so far achieved more than 70 convictions or please. though steven cohen, the sac chief, is not named in the complaint. the complaint does say that the owner of the firm was aware of those trades. mr. martoma will be back in court on december 26th for a preliminary hearing if he is not formally indicted first. >> thank you very much. >>> let's turn our attention to the retail scene. everybody's talking about it. we got it all covered for you. julia boorstin is in los angeles with the latest on a deal between facebook and apple that bears on it. courtney reagan has all the numbers from black friday to cyber monday. brian schactman is in a land's end distribution center in wisconsin on how much cyber monday really matters. let's begin with julia. >> tyler, facebook is teaming up with apple's itunes for its gifts initiative. a powerful alliance that could threaten other
CNBC
Nov 26, 2012 9:00am EST
a -- >> sorry to interrupt you. that's our first opportunity to see mr. martoma who has been living in florida of course as we know as he enters the court. continue, judge. >> the government will put together matching phone calls to particular trades and also look at speed of which trades take place and when they take place that will be part of the circumstantial evidence that will be used to ask the jury to infer that the defendant, mr. martoma, and others were acting with criminal intent. >> we had you on to talk about the gupta trial and now this one. we'll come back time and time again. is the hurdle for either side significantly higher or lower than in the case like gupta? >> in this case, in mr. mart yo appear there are any recordings. it will be a different play. >> just finally, judge, what is now the landscape of federal investigations into the financial services industry? what does this case tell us about where we are now? >> well, it underscores how broad the investigation is and some indication of how broad the problem might be. it's a whole different sphere, if you will, it's no l
CNBC
Nov 25, 2012 11:00pm EST
. the oil sands are buried under forests in alberta the size of florida. the oil here doesn't come gushing out of the sand the way it does in the middle east. the oil is in the sand. it has to be dug up and processed. >> this mine in general will be in operation for about 25 years. >> rick george, the colorado-born c.e.o. of suncor energy, took us into his strip mine for a tour. >> so, bob, this is what the oil sands tar looks like. it's a very rich, very pliable kind of a soil. >> now, when i squeeze it, why doesn't oil come out? >> well, because it's not warm enough. if you add this to hot water, you'll start the separation process, and you'll see the oil come to the top of the water, and you'll see sand drop to the bottom. >> it looks like topsoil, doesn't it? >> it does, but it is oil. >> it looks like topsoil, but all it grows is money. [laughter] it didn't always. the oil sands have been in the ground for millions of years, but for decades, prospectors lost millions of dollars trying to squeeze the oil out of the sand. it simply cost too much. t. boone pickens, the legendary texas oi
CNBC
Nov 26, 2012 6:00pm EST
florida? jeff? >> caller: hey, jim. i saw facebook was up today, but knowing that the new ad blocker app has been released for android devices, how is that going to effect the company? >> it's going to be okay. facebook has the sponsored story thing. really good piece by sanford bernstein today about facebook. that guy hated it when it was right to hate it. he told you to stop hating it at the bottom. tells you to buy it below here. he's my guy. i believe in facebook at these levels. my kids were on facebook a lot this weekend. okay. how about joe in mississippi? joe? >> caller: hello, jim, how you doing? >> hey, doing pretty well. how about you? >> caller: good. okay. mmr, had a rough day today. down 22.5%. >> this one is too hard. it is just entirely a speck play on this davy jones locker, davy jones, well, i'd rather, you know -- sleepy dreams. show what i mean here. no. mmr, hold it until it goes back over 10 then sell it. i think i'm done waiting for mmr to go to 25. i need bob in massachusetts, please. bob? no doubt a patriot fan. bob? >> caller: yes, i am. and mr. cramer, a big ho
Search Results 0 to 4 of about 5